Via Twitter President Trump Announces Bipartisan Debt Ceiling and Budget Deal

Trump Administration Wheel of Fish parody. Image by Lenny Ghoul.

As the News Blender reported Monday afternoon, Congressional leadership was said to be close to reaching a deal with President Trump’s Administration that would raise the debt ceiling before Congress recesses for summer.

Via Twitter on Monday evening, the President announced that a deal has been reached but offered no details.

As Snip Bytes reported, Treasury Steven Mnuchin warned that the government could default as early as September just after Congressional leaders return from their six week summer recess.

As the Wall Street Journal reported according to people familiar with the matter, the agreement would “increase spending by roughly $320 billion above limits set in a 2011 law, with domestic and military spending raised by equal amounts, they added that “nearly $80 billion of the spending agreement will be offset with other savings.”

CNN is reporting that Senate Minority leader Chuck Schumer (D-NY) along with Pelosi have issued a joint-statement that says since President Trump has been in office, Democratic leadership has been able to secure more than $100 billion in increases toward domestic policy spending.

Democrats secured an increase of more than $100 billion in funding for domestic priorities since President Trump took office. After a long negotiation, we have only agreed upon offsets that were part of an earlier bipartisan agreement

Schumer, Pelosi, joint statement via CNN.

The Washington Post is reporting that deal is already facing backlash from both Democrats and Republicans.

Sen. Patrick J. Leahy, the ranking Democrat on the Senate Appropriations Committee, said he was furious that the deal would not block Trump from using funds to erect a wall along the Mexico border, and Republican Study Committee Chairman Rep. Mike Johnson (R-La.,) said he was angry the package added so much money to the debt.

The Washington Post.

According to them, the deal would last until July, 31, 2021, “meaning it would likely not need to be addressed again until the fall or winter of that year. And the two-year budget agreement would set spending levels through Sept. 30, 2022.”

For What It’s Worth.

To be fair, this would not be the first time, the President has announced a deal, only for him to later change his mind.

Stay tuned.

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About Tiff 1276 Articles
Member of the Free Press who is politically homeless and a political junkie.